Vimy, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $500,000 |
Monthly growth | 1.2% |
Quarterly trend | 3.5% |
Stock on market | 0.8% |
Apartment
Median price | $300,000 |
Monthly growth | 0.9% |
Quarterly trend | 2.1% |
Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $400,000 |
3 bedrooms | $500,000 |
4 bedrooms | $600,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $250,000 |
2 bedrooms | $350,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,000 |
Population Change | 7.1% |
Total Private Dwellings | 6,000 |
Occupied Private Dwellings | 5,500 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Vimy, Alberta, is currently demonstrating steady growth in housing prices. The median house price in the area stands at $500,000, with an appreciable year-over-year increase of 3.5%. This growth rate indicates a healthy demand for single-family homes and suggests a stable investment environment for potential homeowners and investors alike.
Similarly, the apartment sector displays positive momentum with a median price of $300,000 and a slightly more modest year-over-year trend of 2.1%. This differential in growth rates between houses and apartments may reflect a stronger preference for detached housing in the region or potentially indicate a greater availability of apartments.
Underpinning these trends is Vimy’s robust population growth of 7.1%, signaling an expanding local economy that could be attracting new residents and fueling demand for housing. As population increases typically correlate with heightened demand in real estate, the current conditions suggest sustained market activity going forward.
Investment Opportunities and Potential
In light of the consistent growth in property values, Vimy presents several opportunities for real estate investment. The stable upward trend in house prices points to potential long-term capital gains for investors in residential properties. With the population on the rise, rental properties may also benefit from an increased pool of potential tenants, leading to potentially higher occupancy rates and rental yields.
The more gradual appreciation of apartment values compared to houses indicates that there might be opportunities to enter the market at a relatively lower cost with room for future growth. Investors should consider diversifying their portfolios to include both types of properties to capitalize on different segments of the market.
Given the sizeable population increase, there is a likely concurrent need for developments in retail, commercial, and industrial sectors that can offer additional investment avenues beyond residential real estate.
Future Market Outlook
The ongoing population growth coupled with current market trends suggest a positive outlook for Vimy’s real estate market. Assuming the town continues to attract new residents through job creation or other economic drivers, demand for housing is likely to remain strong. This bodes well for both property values and rental markets.
However, investors should monitor local economic developments as well as broader national economic conditions that could influence interest rates, borrowing costs, and investment appetites. Developments such as infrastructure projects or policy changes can also have significant impacts on local real estate markets.
Overall, if Vimy maintains its trajectory of growth and development, it should continue to offer appealing opportunities for real estate investment with favorable prospects for medium to long-term returns.